Actuarial assumptions reflect future benefit changes that are set out in the

formal terms of a plan (or a constructive obligation that goes beyond those

terms) at the end of the reporting period. This is the case if, for example:

the entity has a history of increasing benefits, for example, to mitigate

the effects of inflation, and there is no indication that this practice will

change in the future;

the entity is obliged, by either the formal terms of a plan (or a

constructive obligation that goes beyond those terms) or legislation, to use any surplus in the plan for the benefit of plan participants (see

paragraph 108(c)); or

benefits vary in response to a performance target or other criteria. For example, the terms of the plan may state that it will pay reduced benefits or require additional contributions from employees if the plan assets are insufficient. The measurement of the obligation reflects the best

estimate of the effect of the performance target or other criteria.

              Actuarial assumptions do not reflect future benefit changes that are not set out

in the formal terms of the plan (or a constructive obligation) at the end of the

reporting period. Such changes will result in:

         past service cost, to the extent that they change benefits for service

before the change; and

         current service cost for periods after the change, to the extent that they

change benefits for service after the change.

Estimates of future salary increases take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

Some defined benefit plans limit the contributions that an entity is required to pay. The ultimate cost of the benefits takes account of the effect of a limit on contributions. The effect of a limit on contributions is determined over the

shorter of:

         the estimated life of the entity; and

         the estimated life of the plan.

             Some defined benefit plans require employees or third parties to contribute to

the cost of the plan. Contributions by employees reduce the cost of the benefits to the entity. An entity considers whether third-party contributions reduce the

cost of the benefits to the entity, or are a reimbursement right as described in paragraph 116. Contributions by employees or third parties are either set out in the formal terms of the plan (or arise from a constructive obligation that goes beyond those terms), or are discretionary. Discretionary contributions by employees or third parties reduce service cost upon payment of these contributions to the plan.

Contributions from employees or third parties set out in the formal terms of the plan either reduce service cost (if they are linked to service), or affect remeasurements of the net defined benefit liability (asset) (if they are not linked to service). An example of contributions that are not linked to service is when the contributions are required to reduce a deficit arising from losses on plan assets or from actuarial losses. If contributions from employees or third parties

are linked to service, those contributions reduce the service cost as follows:

if the amount of the contributions is dependent on the number of years

of service, an entity shall attribute the contributions to periods of service using the same attribution method required by paragraph 70 for the gross benefit (ie either using the plan's contribution formula or on a

straight-line basis); or

if the amount of the contributions is independent of the number of years of service, the entity is permitted to recognise such contributions as a reduction of the service cost in the period in which the related service is rendered. Examples of contributions that are independent of the number of years of service include those that are a fixed percentage of the employee's salary, a fixed amount throughout the service period or dependent on the employee's age.

Paragraph A1 provides related application guidance.

              For contributions from employees or third parties that are attributed to periods

of service in accordance with paragraph 93(a), changes in the contributions

result in:

current and past service cost (if those changes are not set out in the formal terms of a plan and do not arise from a constructive obligation);

or

actuarial gains and losses (if those changes are set out in the formal

terms of a plan, or arise from a constructive obligation).

Some post-employment benefits are linked to variables such as the level of state retirement benefits or state medical care. The measurement of such benefits reflects the best estimate of such variables, based on historical data and other reliable evidence.

Assumptions about medical costs shall take account of estimated future changes in the cost of medical services, resulting from both inflation and specific changes in medical costs.

Measurement of post-employment medical benefits requires assumptions about the level and frequency of future claims and the cost of meeting those claims. An entity estimates future medical costs on the basis of historical data about the entity's own experience, supplemented where necessary by historical data from

other entities, insurance companies, medical providers or other sources. Estimates of future medical costs consider the effect of technological advances, changes in health care utilisation or delivery patterns and changes in the health status of plan participants.

Past service cost and gains and losses on settlement

Before determining past service cost, or a gain or loss on settlement, an

entity shall remeasure the net defined benefit liability (asset) using the current fair value of plan assets and current actuarial assumptions (including current market interest rates and other current market prices) reflecting the benefits offered under the plan before the plan amendment, curtailment or settlement.

A settlement occurs together with a plan amendment and curtailment if a plan is terminated with the result that the obligation is settled and the plan ceases to exist. However, the termination of a plan is not a settlement if the plan is

replaced by a new plan that offers benefits that are, in substance, the same.

Past service cost

Past service cost is the change in the present value of the defined benefit obligation resulting from a plan amendment or curtailment.

An entity shall recognise past service cost as an expense at the earlier of

the following dates:

         when the plan amendment or curtailment occurs; and

         when the entity recognises related restructuring costs (see IAS 37)

or termination benefits (see paragraph 165).

A plan amendment occurs when an entity introduces, or withdraws, a defined benefit plan or changes the benefits payable under an existing defined benefit plan.

A curtailment occurs when an entity significantly reduces the number of employees covered by a plan. A curtailment may arise from an isolated event, such as the closing of a plant, discontinuance of an operation or termination or suspension of a plan.

Past service cost may be either positive (when benefits are introduced or changed so that the present value of the defined benefit obligation increases) or negative (when benefits are withdrawn or changed so that the present value of the defined benefit obligation decreases).

Where an entity reduces benefits payable under an existing defined benefit plan and, at the same time, increases other benefits payable under the plan for the same employees, the entity treats the change as a single net change.

Past service cost excludes:

the effect of differences between actual and previously assumed salary increases on the obligation to pay benefits for service in prior years (there is no past service cost because actuarial assumptions allow for

projected salaries);

underestimates and overestimates of discretionary pension increases when an entity has a constructive obligation to grant such increases (there is no past service cost because actuarial assumptions allow for

such increases);

estimates of benefit improvements that result from actuarial gains or

from the return on plan assets that have been recognised in the financial statements if the entity is obliged, by either the formal terms of a plan (or a constructive obligation that goes beyond those terms) or legislation, to use any surplus in the plan for the benefit of plan participants, even if the benefit increase has not yet been formally awarded (there is no past service cost because the resulting increase in the obligation is an

actuarial loss, see paragraph 88); and

the increase in vested benefits (ie benefits that are not conditional on future employment, see paragraph 72) when, in the absence of new or improved benefits, employees complete vesting requirements (there is no past service cost because the entity recognised the estimated cost of benefits as current service cost as the service was rendered).

Gains and losses on settlement

              The gain or loss on a settlement is the difference between:

          the present value of the defined benefit obligation being settled, as

determined on the date of settlement; and

          the settlement price, including any plan assets transferred and any

payments made directly by the entity in connection with the settlement.

An entity shall recognise a gain or loss on the settlement of a defined benefit plan when the settlement occurs.

A settlement occurs when an entity enters into a transaction that eliminates all further legal or constructive obligation for part or all of the benefits provided under a defined benefit plan (other than a payment of benefits to, or on behalf of, employees in accordance with the terms of the plan and included in the actuarial assumptions). For example, a one-off transfer of significant employer obligations under the plan to an insurance company through the purchase of an

insurance policy is a settlement; a lump sum cash payment, under the terms of the plan, to plan participants in exchange for their rights to receive specified post-employment benefits is not.

In some cases, an entity acquires an insurance policy to fund some or all of the employee benefits relating to employee service in the current and prior periods. The acquisition of such a policy is not a settlement if the entity retains a legal or constructive obligation (see paragraph 46) to pay further amounts if the insurer does not pay the employee benefits specified in the insurance policy. Paragraphs 116-119 deal with the recognition and measurement of reimbursement rights under insurance policies that are not plan assets.

Recognition and measurement: plan assets

Fair value of plan assets

The fair value of any plan assets is deducted from the present value of the defined benefit obligation in determining the deficit or surplus.

Plan assets exclude unpaid contributions due from the reporting entity to the fund, as well as any non-transferable financial instruments issued by the entity and held by the fund. Plan assets are reduced by any liabilities of the fund that do not relate to employee benefits, for example, trade and other payables and liabilities resulting from derivative financial instruments.

Where plan assets include qualifying insurance policies that exactly match the amount and timing of some or all of the benefits payable under the plan, the fair value of those insurance policies is deemed to be the present value of the related obligations (subject to any reduction required if the amounts receivable under the insurance policies are not recoverable in full).

Reimbursements

When, and only when, it is virtually certain that another party will reimburse some or all of the expenditure required to settle a defined

benefit obligation, an entity shall:

          recognise its right to reimbursement as a separate asset.                           The

entity shall measure the asset at fair value.

disaggregate and recognise changes in the fair value of its right to

reimbursement in the same way as for changes in the fair value of plan assets (see paragraphs 124 and 125). The components of defined benefit cost recognised in accordance with paragraph 120 may be recognised net of amounts relating to changes in the carrying amount of the right to reimbursement.

Sometimes, an entity is able to look to another party, such as an insurer, to pay part or all of the expenditure required to settle a defined benefit obligation. Qualifying insurance policies, as defined in paragraph 8, are plan assets. An entity accounts for qualifying insurance policies in the same way as for all other plan assets and paragraph 116 is not relevant (see paragraphs 46-49 and 115).

When an insurance policy held by an entity is not a qualifying insurance policy, that insurance policy is not a plan asset. Paragraph 116 is relevant to such cases:

the entity recognises its right to reimbursement under the insurance policy as a separate asset, rather than as a deduction in determining the defined benefit deficit or surplus. Paragraph 140(b) requires the entity to disclose a brief description of the link between the reimbursement right and the related obligation.

If the right to reimbursement arises under an insurance policy that exactly matches the amount and timing of some or all of the benefits payable under a defined benefit plan, the fair value of the reimbursement right is deemed to be the present value of the related obligation (subject to any reduction required if the reimbursement is not recoverable in full).

Components of defined benefit cost

An entity shall recognise the components of defined benefit cost, except

to the extent that another IFRS requires or permits their inclusion in the

cost of an asset, as follows:

service cost (see paragraphs 66-112) in profit or loss;

net interest on the net defined benefit liability (asset) (see

paragraphs 123-126) in profit or loss; and

remeasurements of the net defined benefit liability (asset) (see

paragraphs 127-130) in other comprehensive income.

Other IFRSs require the inclusion of some employee benefit costs within the cost of assets, such as inventories and property, plant and equipment (see IAS 2 and IAS 16). Any post-employment benefit costs included in the cost of such assets include the appropriate proportion of the components listed in paragraph 120.

Remeasurements of the net defined benefit liability (asset) recognised in other comprehensive income shall not be reclassified to profit or loss in a subsequent period. However, the entity may transfer those amounts recognised in other comprehensive income within equity.

Net interest on the net defined benefit liability (asset)

Net interest on the net defined benefit liability (asset) shall be determined by multiplying the net defined benefit liability (asset) by the discount rate specified in paragraph 83, both as determined at the start of the annual reporting period, taking account of any changes in the net defined benefit liability (asset) during the period as a result of contribution and benefit payments.

Net interest on the net defined benefit liability (asset) can be viewed as comprising interest income on plan assets, interest cost on the defined benefit obligation and interest on the effect of the asset ceiling mentioned in paragraph 64.

Interest income on plan assets is a component of the return on plan assets, and is determined by multiplying the fair value of the plan assets by the discount rate specified in paragraph 83, both as determined at the start of the annual reporting period, taking account of any changes in the plan assets held during the period as a result of contributions and benefit payments. The difference

between the interest income on plan assets and the return on plan assets is

included in the remeasurement of the net defined benefit liability (asset).

Interest on the effect of the asset ceiling is part of the total change in the effect of the asset ceiling, and is determined by multiplying the effect of the asset ceiling by the discount rate specified in paragraph 83, both as determined at the start of the annual reporting period. The difference between that amount and the total change in the effect of the asset ceiling is included in the remeasurement of the net defined benefit liability (asset).

Remeasurements of the net defined benefit liability (asset)

Remeasurements of the net defined benefit liability (asset) comprise:

actuarial gains and losses (see paragraphs 128 and 129);

the return on plan assets (see paragraph 130), excluding amounts included in net interest on the net defined benefit liability (asset) (see

paragraph 125); and

any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset) (see paragraph 126).

of the defined benefit obligation because of changes in actuarial assumptions and experience adjustments. Causes of actuarial gains and losses include, for

example:

unexpectedly high or low rates of employee turnover, early retirement or mortality or of increases in salaries, benefits (if the formal or constructive terms of a plan provide for inflationary benefit increases) or

medical costs;

the effect of changes to assumptions concerning benefit payment

options;

the effect of changes in estimates of future employee turnover, early retirement or mortality or of increases in salaries, benefits (if the formal or constructive terms of a plan provide for inflationary benefit increases)

or medical costs; and

the effect of changes in the discount rate.

Actuarial gains and losses do not include changes in the present value of the defined benefit obligation because of the introduction, amendment, curtailment or settlement of the defined benefit plan, or changes to the benefits payable under the defined benefit plan. Such changes result in past service cost or gains or losses on settlement.

In determining the return on plan assets, an entity deducts the costs of managing the plan assets and any tax payable by the plan itself, other than tax included in the actuarial assumptions used to measure the defined benefit obligation (paragraph 76). Other administration costs are not deducted from the return on plan assets.

Presentation

Offset

              An entity shall offset an asset relating to one plan against a liability

relating to another plan when, and only when, the entity:

has a legally enforceable right to use a surplus in one plan to settle

obligations under the other plan; and

intends either to settle the obligations on a net basis, or to realise

the surplus in one plan and settle its obligation under the other plan simultaneously.

the offsetting criteria are similar to those established for financial instruments in IAS 32 Financial Instruments: Presentation.

Current/non-current distinction

Some entities distinguish current assets and liabilities from non-current assets and liabilities. This Standard does not specify whether an entity should distinguish current and non-current portions of assets and liabilities arising from post-employment benefits.

Components of defined benefit cost

Paragraph 120 requires an entity to recognise service cost and net interest on the net defined benefit liability (asset) in profit or loss. This Standard does not specify how an entity should present service cost and net interest on the net defined benefit liability (asset). An entity presents those components in accordance with IAS 1.

Disclosure

An entity shall disclose information that:

explains the characteristics of its defined benefit plans and risks

associated with them (see paragraph 139);

identifies and explains the amounts in its financial statements

arising from its defined benefit plans (see paragraphs 140-144);                  

and

describes how its defined benefit plans may affect the amount, timing and uncertainty of the entity's future cash flows (see paragraphs 145-147).

              To meet the objectives in paragraph 135, an entity shall consider all the

following:

the level of detail necessary to satisfy the disclosure requirements;

how much emphasis to place on each of the various requirements;

how much aggregation or disaggregation to undertake; and

whether users of financial statements need additional information to

evaluate the quantitative information disclosed.

If the disclosures provided in accordance with the requirements in this Standard and other IFRSs are insufficient to meet the objectives in paragraph 135, an entity shall disclose additional information necessary to meet those objectives. For example, an entity may present an analysis of the present value of the defined benefit obligation that distinguishes the nature, characteristics and

risks of the obligation. Such a disclosure could distinguish:

between amounts owing to active members, deferred members, and

pensioners.

between vested benefits and accrued but not vested benefits.

between conditional benefits, amounts attributable to future salary

increases and other benefits.

              An entity shall assess whether all or some disclosures should be disaggregated to

distinguish plans or groups of plans with materially different risks. For example, an entity may disaggregate disclosure about plans showing one or

more of the following features:

different geographical locations.

different characteristics such as flat salary pension plans, final salary pension plans or post-employment medical plans.

different regulatory environments.

different reporting segments.

different funding arrangements (eg wholly unfunded, wholly or partly funded).

صفحه     1      2     3     4      5       6      7